How to sell equipment

[pitt_md]

This is kind of a hard post to write.

My wife has finally admitted to me that the horses scare her to the extent that she doesn't want to ride. I love horses and I love my tractor/equipment but it's a big investment as you all know. Adding fuel to the fire I have been offered a job in Scottsdale AZ. We are both getting up there in years and living some place warm in the winter is sounding very appealing.

So the question is this. Would you hold a auction for all your equipment or list and sell each implement/tractor seperately?

I own all my stuff free and clear if that matters.

 

[TripleR]

I sure hate to hear you are going to have to sell out, but can certainly understand. My sons got rid of all of their horses due to not having the time to enjoy them and as you know they eat whether you ride them or not.

Sorry I can't be of any help on auctions as the ones I have been to have been hit or miss and I don't even go to them anymore. If i want to sell something, I tell my dealer and he will refer someone when they come in looking for stuff.

 

[radman1]

How much stuff to you need to sell? If just several major items, then consider selling it yourself. If many items, then auction for certain. Even if don't have that many items, you could combine it with someone else's items and have it all auctioned off. If you are planning to move soon, then auction is the way to go.
When I get ready to scale back, it will be auction for me.

 

[blueriver]

This is kind of a hard post to write.

My wife has finally admitted to me that the horses scare her to the extent that she doesn't want to ride. I love horses and I love my tractor/equipment but it's a big investment as you all know. Adding fuel to the fire I have been offered a job in Scottsdale AZ. We are both getting up there in years and living some place warm in the winter is sounding very appealing.

So the question is this. Would you hold a auction for all your equipment or list and sell each implement/tractor seperately?

I own all my stuff free and clear if that matters.

Auction absolutly Auction ... as long as you have enough for an auction... everything sells the same day for cash and its done. The auction company will be licensed bonded and insured and will handle the funds and you get paid from an escrow account. If they recieve any bad checks its their baby not yours.

Yes others will tell you "THEY GET A COMMISSION" thats what they work for and will strive to get a good crowd of buyers and as much money available for your items.

The auction company will gladly come out and give you a market evaluation at no cost.

In fact one of the best auction companies (they also run the auctioneers college in MN) is pretty darn close to you Based in Mankato. PM if you would like their contact information.

 

[oldnslo]

Check around and see if any dealers in your area have consignment auctions. We have two here locally that have one every spring and fall. They work good for people that are looking to move a few items but don't have enough for their own sale. They usually draw a good crowd since their is a large selection of equipment Vs what the average small operator has.

Again, sales price is a crap shoot but I think you can ask for a minimum on some equipment. may want to check on that.

Good luck

Roy

 

[RobertN]

I purchased the tractor I have now, on consignment. Just have to watch what the consignment fees are. My local independant dealer had the tractor; I do not know what is charges were.

 

[dynasim]

Craigslist is an amazing thing, if you have the time to deal with the wingnuts. The ads are free, and widely read.

Beware the wingnuts, though, and take all the appropriate precautions.

Chris

 

[McCaskey]

Depending on your tax bracket, you could donate the stuff to a non profit and take the tax deduction. Maybe reduce capital gains on your farm. Ask a tax guy.

 

[bigbull338]

as said go with an auction if you have enough equipment an other things.you can also sell the household stuff that you dont want to move as well.an that will make the sale better.auctions charge in 2 ways,1 is you pay a 10% commisson on all items sold.2 you can have a buyers premium sale,where the buyers pay the 10% comm.the buyers premium sales dont fly to good round here.because people try to buy everything as cheap as possable because they paying the comm.

 

[bdeboer]

It seems at the sales around here, the most desirable stuff is sold before the auction bill is made up. At least alot of the auctions look a little picked over, like no tractor large enough to run the baler they are selling.